First American Bank & Trust Company v. Ellwein

(dissenting) .

I dissent and would affirm the decision of the trial court.

First American Bank & Trust Company was organized as an annuity, safe deposit, surety and trust company pursuant to Chapter 6-05, North Dakota Century Code.

Chapter 6-05, on the other hand, provides for the organization, powers, management and regulation of annuity, safe deposit, surety, and trust ' companies which come within the definition of banking institutions but not banking associations. Both are corporations but differ widely in requirements of organization, qualification, powers, scope of activities, and…